MaR Aug 26 2020

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Market Report for Aug 26 2020

Penguin Position

Look for quality set ups. Taking too many trades will not help you make more money and will only hinder your trading. Quality over quantity.

New Positions:
Level 3 trades have been taken at this time

Trade Zones:
None

Market Trend:
Up

Market YTD:
Nasdaq Composite +27.8% YTD
S&P 500 +6.6% YTD
Dow Jones Industrial Average -1.0% YTD
Russell 2000 -5.8% YTD

Market Volume:
NYSE Vol: 713 mln
Nasdaq Vol: 3.4 bln

Comments:
The S&P 500 and Nasdaq Composite printed new highs. Totally off the pace was Dow Jones Industrial Average once again.

CRM soared on better than expected earnings and hits a new ATH with a 17.5% gain.

Over the past few days we have been taking some Level 3 trades but the market is still offering a lack of opportunities which is mainly due to the S&P 500 proximity to the resistance and low range bars since the breakout.

PORT Aug 26 2020

Lets go trade!